Dislikedyeah, I am targeting 193-194 area, but waiting for this retrace to complete, if that is in fact what's happening. Closed my open buy position, nowit's wait and see.Ignored
- #11,861
- Sep 17, 2015 11:28am Sep 17, 2015 11:28am
- Joined Feb 2015 | Status: doing ninja shit | 2,077 Posts
- #11,864
- Sep 17, 2015 2:06pm Sep 17, 2015 2:06pm
- Joined Feb 2015 | Status: doing ninja shit | 2,077 Posts
Placed a Short order right after the Fed decision @ 187.63 (15min after the spike) for a TP of 186.10, but
Due to the Yuan strengthening just now, i'm debating on closing it early because this might take its bull course...
Will update with more analysis
Due to the Yuan strengthening just now, i'm debating on closing it early because this might take its bull course...
Will update with more analysis
- #11,866
- Sep 17, 2015 6:51pm Sep 17, 2015 6:51pm
- Joined Apr 2014 | Status: Scalper / Swing Trader | 1,417 Posts | Online Now
Longing the gbp/jpy from 186.421.
Initial targets at 187.70/50, 188, 188.50 +/- 20 pips, 190, 190.70/50. Hard stop loss (SL) at 186.10. Soft SL will be in place once we get a confirmed break above 186.750 with the zone acting as support. I'll probably move them bit by bit as price goes up.
Max Risk:Reward ratio: 1:12.7xxx (assuming TP at 190.50). Pretty good odds.
Any time it doesn't hold on up the daily fibonacci S/R or gets stalled halfway in between, I may just pull out early.
I wonder if there's any veteran members still active...forum threads for currency pairs have been losing a lot of good people lately. Instead, all we get are spammers, commercial members, and people whining about the market not going the exact way they wanted. Hell, just right now someone didn't even know the reason why the yen pairs shot up and was asking why the BoJ's Kuroda announcement caused it (blame China for that one; specifically the yuan pref. rate).
Not much incentive to do posts much.
Update 1: Just hit 187 again. Moved hard SL break even, soft SL at a confirmed break below 186.70.
Initial targets at 187.70/50, 188, 188.50 +/- 20 pips, 190, 190.70/50. Hard stop loss (SL) at 186.10. Soft SL will be in place once we get a confirmed break above 186.750 with the zone acting as support. I'll probably move them bit by bit as price goes up.
Max Risk:Reward ratio: 1:12.7xxx (assuming TP at 190.50). Pretty good odds.
Any time it doesn't hold on up the daily fibonacci S/R or gets stalled halfway in between, I may just pull out early.
I wonder if there's any veteran members still active...forum threads for currency pairs have been losing a lot of good people lately. Instead, all we get are spammers, commercial members, and people whining about the market not going the exact way they wanted. Hell, just right now someone didn't even know the reason why the yen pairs shot up and was asking why the BoJ's Kuroda announcement caused it (blame China for that one; specifically the yuan pref. rate).
Not much incentive to do posts much.
Update 1: Just hit 187 again. Moved hard SL break even, soft SL at a confirmed break below 186.70.
Longing the gbp/jpy from 186.421. Initial targets at 187.70/50, 188, 188.50 +/- 20 pips, 190, 190.70/50. Hard stop loss (SL) at 186.10. Soft SL will be in place once we get a confirmed break above 186.750 with the zone acting as support. I'll probably move them bit by bit as price goes up. Max Risk:Reward ratio: 1:12.7xxx (assuming TP at 190.50). Pretty good odds. Any time it doesn't hold on up the daily fibonacci S/R or gets stalled halfway in between, I may just pull out early. I wonder if there's any veteran members still active...forum threads...
- #11,868
- Edited 7:45pm Sep 17, 2015 7:33pm | Edited 7:45pm
- | Joined Sep 2015 | Status: Living | 165 Posts
{quote} Each to their own.. I do set stops, but 2 x the average true range. I use it as a hard stop. I trade charts, if I know I'm wrong, you can always close manually. by setting tight stops, you are suffocating the trade before it breathes. A question to ask yourself. Where did you 'learn' to trade? free information on the internet maybe? and there motives are pure? eitherway, my advice is, don't set stops. try it on a demo account for a week, mirror your live account with the stops and compare the difference. Personally, for me. I lose less without...
Well, just go with that theory bc it makes you happy and me out of the picture...
Btw, a demo account for me is child's play kid! No one in the industry in their right mind would ever respect that...
- #11,869
- Sep 17, 2015 8:09pm Sep 17, 2015 8:09pm
- Joined Apr 2014 | Status: Scalper / Swing Trader | 1,417 Posts | Online Now
{quote} Like people advising others to not set stop losses ?
Longing the gbp/jpy from 186.421. Initial targets at 187.70/50, 188, 188.50 +/- 20 pips, 190, 190.70/50. Hard stop loss (SL) at 186.10. Soft SL will be in place once we get a confirmed break above 186.750 with the zone acting as support. I'll probably move them bit by bit as price goes up. Max Risk:Reward ratio: 1:12.7xxx (assuming TP at 190.50). Pretty good odds. Any time it doesn't hold on up the daily fibonacci S/R or gets stalled halfway in between, I may just pull out early. I wonder if there's any veteran members still active...forum...
I have absolutely no idea what you're talking about.
{quote} Please refer to the following: {quote} In my statement that you've quoted, I've given three separate indications that I've set a proper SL (stop loss): twice when I posted, and once as an update to make sure I don't make a loss once price moved up (hard SL is at break even). I have absolutely no idea what you're talking about.
I like your strategy, I think its your proactive trading style, which is something I Respect...
btw... One of my CFA's from Wharton was very good with Shotgun Stoch.
- #11,871
- Sep 17, 2015 8:17pm Sep 17, 2015 8:17pm
- Joined Apr 2014 | Status: Scalper / Swing Trader | 1,417 Posts | Online Now
{quote} Hey, that was not directed to you in any way... (referring to an earlier post about a certain someone giving me "advice") Sorry about the mis-confusion... I like your strategy, I think its your proactive trading style, which is something I Respect...
But that's too risky for my tastes.
All eyes on how the Nikkei and the Shanghai Composite finishes. It'll probably make or break most of my profits for Friday.
Edit: If we can get a sustained break above 187.40/00 area, I'll probably move my hard SL to 186.850, soft SL manual, and just play online poker while glancing to the other screen every few minutes or so.
{quote} Ah. No worries, mate. Just surprised, that's all. For a moment, I actually did think that I didn't post it. Though to be honest, I do know several decent enough traders who don't seem to use a stop loss on ForexFactory (ex: FxTyrant). But that's too risky for my tastes. All eyes on how the Nikkei and the Shanghai Composite finishes. It'll probably make or break most of my profits for Friday.
Been successful doing it, but not on any trade longer than a couple mins...
(I would never advise anyone to NOT set a SL though, that's just horrible advice no matter what point your trying to get across on a forum...)
That's nice proactive plan, I'm watching my orders throughout the night as well.
I know we're on opposite sides for these orders, but good luck and happy trading today
- #11,873
- Edited Sep 18, 2015 12:48am Sep 17, 2015 9:31pm | Edited Sep 18, 2015 12:48am
- Joined Apr 2014 | Status: Scalper / Swing Trader | 1,417 Posts | Online Now
- #11,875
- Sep 18, 2015 5:25am Sep 18, 2015 5:25am
{quote} Hey, that was not directed to you in any way... (referring to an earlier post about a certain someone giving me "advice") Sorry about the mis-confusion... I like your strategy, I think its your proactive trading style, which is something I Respect...
Hey Man,
I was only trying to be helpful! you posted to messages saying you where stopped out twice.. Geez. could have just said thanks, not for me..
- #11,876
- Sep 18, 2015 5:27am Sep 18, 2015 5:27am
{quote} Where I learned to trade? Been in this market for a decade, and I just started to post my thoughts... and you believe that it was on the internet? Good one
It was just to compare results. ya know.. evidence based on fact rather than opinion. Anyway, I'm done. your making it personal which is not what was intended.
you just carry on the way you are. clearly you know what your doing. I was just trying to be friendly and help out.
- #11,877
- Sep 18, 2015 7:32am Sep 18, 2015 7:32am
- Joined Nov 2007 | Status: CHART HACKER | 2,454 Posts
I have the upside big time from 186.00...trading 500 pip blocks...at the even numbers.....180.00......185,00.... like unto that 
- #11,878
- Sep 18, 2015 7:42am Sep 18, 2015 7:42am
- Joined Nov 2007 | Status: CHART HACKER | 2,454 Posts
after the fed speech......it's as if Yellin is admitting the world economy is out of control and if they would have raised the rate ....all the little economies would have gone down for the count, baby
we have squat now for a global scene....I've double checked my egress chute....I'm certain He will actuate when we all......BAIL OUT...right before we pull the wings off this aircraft seeing the ground come up!!
my eotwawki trading system is flashing red across the dashboard....
.
. get your egress chute here........that book of renown named Basic Instructions Before Leaving Earth...
we have squat now for a global scene....I've double checked my egress chute....I'm certain He will actuate when we all......BAIL OUT...right before we pull the wings off this aircraft seeing the ground come up!!
my eotwawki trading system is flashing red across the dashboard....
.
. get your egress chute here........that book of renown named Basic Instructions Before Leaving Earth...
- #11,879
- Sep 18, 2015 7:49am Sep 18, 2015 7:49am
- Joined May 2011 | Status: [Forex]X-Ray | 4,835 Posts
- #11,880
- Sep 18, 2015 7:53am Sep 18, 2015 7:53am
- Joined Nov 2007 | Status: CHART HACKER | 2,454 Posts